The BRICS nations (Brazil, Russia, India, China, and South Africa) just announced that they are set to launch their highly rumored digital reserve currency any time now. Possibly before the end of the month.
This bold move has the potential to challenge the US dollar’s dominance in international trade and financial transactions.
Supposedly, the new digital currency, BRICS Coin (BRIC), will be a basket currency. In simple words, it will be tied to the resources of the BRICS members, like gold. Which largely explain why their central banks have been buying precious metals like crazy the past few months. The BRICS nations have long been vocal about their desire to reduce their reliance on the US dollar.
THE BRICS ARE PLANNING SOME BIG ANNOUNCEMENTS THIS YEAR
- Russia and Brazil are prepping big announcements for the BRICS Summit in Kazan, October 2024.
- The summit will explore major topics like de-dollarization, expansion, and a new currency introduction.
- Brazil’s G20 Summit in Rio this November will also feature key discussions with BRICS members.
As the calendar flips closer to the highly-anticipated BRICS Summit in October, whispers and bold claims alike are going around Russia and Brazil. The whole world has got its eyes peeled, and for a good reason. Russian Foreign Minister Sergey Lavrov and Brazil’s Mauro Vieira are cooking something big for this year’s meet-up in Kazan. It seems like this is gonna be a gathering of nations with a thirst for change, and man, they are NOT shy about it.
Brazil, Russia, India, China, and South Africa, the founding nations of BRICS, are getting ready to welcome fresh faces into their fold. The summit is gonna be all about expansion and the introduction of a new currency, among other hot topics.
My boys are taking it home!
A Gathering of Giants
When Russia and Brazil talk, the world actually listens. They’re incredibly powerful together, and the two countries are tightening their alliance, plotting something for the upcoming BRICS and G20 summits. With Rio de Janeiro playing host to the G20 in November, we’re hearing that there is gonna be discussions that could redefine international relations.
**DE-DOLLARIZATION**
Ah. Of course. There is a slew of countries knocking on BRICS’ door, eager to ditch the US dollar for literally anything else. No surprise there. America, as an institution, has way too many haters.
A New World Order? – Hmm
With nations from the Global South lining up to join, the BRICS’ appeal has never been more evident. Indonesia, Nigeria, Pakistan, Vietnam, and even Yemen, backed by Russia, China, and Iran, are all potential new members. It’s a clear signal that the world is craving a multipolar future, one where economic and political diversity is effing celebrated.
I know that’s right!
Sergey Ryabkov, Russia’s deputy foreign minister and a key figure in the BRICS, has his hands full. His mission is to integrate the new joiners seamlessly, ensuring the alliance grows stronger and more cohesive.
But with dozens of countries eager to join, my man’s task is anything but simple. The decision on who gets to join will, of course, be made in Kazan.
The BRICS has come a long way since its creation. With membership about to expand even further, the alliance is growing in numbers and influence as well. Countries around the world are watching closely, eager to see which nations will next join the ranks of this economic powerhouse.
Guys, the global economy is literally changing right before our eyes. So, as we edge closer to October and the gathering in Kazan, let’s not forget what’s at stake. The entire world. Literally
